Namecoin (NMC) price, marketcap, chart, and info CoinGecko


ALTcointip bot allows Redditors to tip various cryptocoins to each other. 15 cryptocurrencies are supported - Bitcoin, Litecoin, Peercoin, Primecoin, Namecoin, Megacoin, BBQCoin, Digitalcoin, Infinitecoin, Ixcoin, Mincoin, Quarkcoin, Stablecoin, and Zetacoin.

A brief history of the 2013 market peak; why some alts really do die; and what would've happened if you'd given in to FOMO

This piece is a follow-up to my earlier piece, which looked at what would’ve happened if you’d purchased alt-coins shortly after the bottom of the 2013-2015 bear market. A lot of the constructive criticism that I received was that I was too bullish on alt-coins, and that the timing was too convenient. Although it’s fair to say that I am bullish on crypto in general and alt-coins in particular (with several major caveats for both), I agree that it’s important to not just focus on historical analyses where it’s fairly clear that you could have earned money. So, today’s research question is whether you’d still be underwater if you’d bought in to the market at or near the 2013 all-time high. All information cited herein comes from the historical charts available at CoinMarketCap.
TL;DR: This worst-case scenario analysis shows that $300 invested equally across 15 of the 40 coins in existence near the market’s peak in 2013 would be worth only $429.95 today—gains which are entirely attributable to Bitcoin, Litecoin, and Ripple. This is basic, but it can be dangerous to buy high. This is especially true of alt-coins, but even the top three coins in our sample saw fairly lackluster results when bought at the top of the market. Finally, nothing in this post should be taken as investment advice. This is only intended as historical analysis. Past performance does not guarantee future returns.
A Brief History of the 2013 Market Peak
According to CoinMarketCap, the 2013 bull market peaked on December 4, 2013, at ~$15.87 billion in market capitalization.* Thereafter, the market crashed dramatically not once, but twice. In the first crash, which occurred between December 5-8, 2013, overall market cap fell by ~39% to ~$9.66 billion. Then, after a brief recovery to ~$13.57 billion on December 10th, the market fell precipitously, to ~$5.7 billion on December 18, 2013. Thus, over the course of only two weeks, from December 4-18, 2013, the market lost ~64% of its value. Although this was by no means the end of the 2013-2015 bear market--which lasted for approximately 17 months and saw an additional decline of ~45% from the December 18, 2013 low--this was the end of the beginning.
What If I Bought Crypto Right as the 2013 Market Peaked?
Generally, the first rule of trading is** that you want to buy low and sell high. As a result of their fear of missing out (“FOMO”), however, many people find themselves accidentally buying high. Today, I’m going to look at what would have happened to someone who bought their crypto right as the market was peaking. Ideally, I would run this experiment from December 4, 2013, but due to the limited data available from CoinMarketCap, I’m forced to choose between November 24th, December 1st, December 8th, and December 15th. Of those dates, I have selected December 1, 2013, because it represents the worst possible scenario for which I have data. On that date, total crypto market cap, which had hit a new high of ~$15.4 billion the day before, swung wildly between a high of ~$14.83 billion and a low of ~$12.18 billion. Unfortunately, it’s unclear exactly when CoinMarketCap’s snapshot was taken. That said, it’s clear that our hypothetical FOMO trader is about to lose his shirt over the next few weeks, so let’s dive into the specifics.
On December 1, 2013, there were 40 coins listed on CoinMarketCap. I won’t list them all here, but of those 40, all but 11 are still listed as active on CoinMarketCap. The truly dead (or “inactive”) coins are BBQCoin (BQC; rank 16), Devcoin (DVC; rank 19), Tickets (TIX; rank 22), Copperlark (CLR; rank 24), StableCoin (SBC; rank 25), Luckycoin (LKY—ironic, I realize; rank 31), Franko (FRK; rank 34), Bytecoin (BTE; rank 35), Junkcoin (JKE—how apt; rank 36), CraftCoin (CRC; rank 39), and Colossuscoin (COL; rank 40).***
Now, since this post is already incredibly long, instead of testing all 40 coins, let’s take a decently-sized sample of five coins each from the top, middle, and bottom of the stack, and look at what happens. For the middle, although the temptation is to take decent alts, let’s fight that and take the group with the highest failure rate: ranks 21-25. So, here’s out pool:
Now, here are how our sample of coins has performed as of when I write this:****
So, if our hypothetical FOMO trader had invested $100 in our top-five sample near the 2013 peak, it would currently be worth $411.80 (the profitable coins) + $3.06 (PPC) + $4.27 (NMC) = $419.13—a 4.19x increase.
Now for the two coins in the middle five that didn’t completely die:
So, if our hypothetical FOMO trader had invested $100 in our middle-five sample near the 2013 peak, it would currently be worth ~$15.19—an ~84.8% loss.
Finally, here are the two coins from the bottom five that didn’t completely die:
So, excluding everything buy Argentum, if our hypothetical FOMO trader had invested $100 in our bottom-five sample near the 2013 peak, it would currently be worth ~$2.96—a ~97% loss. Putting it all together, $300 invested in this sample of 15 coins as close to the peak of the 2013 market as the data will let me get, would be worth $429.95—a disappointing, but not-unexpected ~30.2% increase over five years. That said, I’m honestly somewhat amazed our FOMO trader made anything at all on this basket of coins, considering how many of them failed. In any case, all of his gains came from the top-three coins from 2013: Bitcoin, Litecoin, and Ripple.
What’s the lesson here, what’s the takeaway?***** Most importantly, I think the above analysis shows that it can be very dangerous to buy alt-coins when the market is at or near an all-time high—a conclusion that appears to be true regardless of where the alt is positioned in the market. That said, there are a few caveats: (1) this sample was intentionally bad, in order to reflect a worst-case scenario; (2) even buying the top-three coins at the all-time high didn’t net our FOMO trader particularly large gains when compared to someone who bought these same coins after the crash. Therefore, I think that the most important lesson here is not to buy high in the first place. Investing solely because of FOMO will probably cause you to lose money, unless you have invested equally in a broad range of cryptocurrencies, like the trader in our hypothetical. Even then, however, our FOMO trader probably would have done better investing in an S&P Index fund over the same period.
*This is a correction to my earlier piece, in which I stated that the cryptocurrency market peaked on November 30, 2013, at a total market capitalization of ~$15.2 billion. I made this error due to having failed to narrow the date range of the chart so I could properly zoon in. That said, the exact details of the market peak don’t affect the conclusions from my last piece, which considered trades made after the market had bottomed out.
** …you do not talk about trading. Wait, that’s the wrong rulebook.
*** Since I already typed it out, here’s the list of remaining active coins, in descending order: Bitcoin (BTC), Litecoin (LTC), Ripple (XRP), Peercoin (PPC), Namecoin (NMC), Megacoin (MEC), Feathercoin (FTC), WorldCoin (WDC), Primecoin (XPM), Freicoin (FRC), Novacoin (NVC), Zetacoin (ZET), Infinitecoin (IFC), Terracoin (TRC), Crypto Bullion (CBX), Anoncoin (ANC), Digitalcoin (DGC), GoldCoin (GLD), Yacoin (YAC), Ixcoin (IXC), Fastcoin (FST), BitBar (BTB), Mincoin (MNC), Tagcoin (TAG), FlorinCoin (FLO), I0Coin (I0C), Phoenixcoin (PXC), Argentum (ARG), Elacoin (ELC)
**** I know that we could have sold them sooner, and probably for more money, but let’s just assume that our hypothetical FOMO trader was a founding member of the #hodlgang. ;-)
***** Don’t mess with Maui when he’s on a breakaway! You’re welcome. ;-)
Disclosures: I have previous held Litecoin, and currently hold approximately $140 of Ripple. I do not believe this influenced my analysis in any way. I have never bought or held any of the other coins discussed in this analysis.
Edits: Formatting, typos, minor clarifications.
submitted by ThaneduFife to CryptoCurrency [link] [comments]

What to expect in the next 5-10 years. From the perspective of a long-time crypto holder.

I've been involved in crypto since reading about Bitcoin in 2010. I've seen coins come and go and everything in between. How many of you know what Solidcoin is? Yeah, I've seen a thing or two.
Whether or not a coin does well in the long-term is tied to many factors. Among those factors, one of them is the emission rate of new coins. Emission rate, of itself, doesn't mean much because it is constant. However, it is a positive sign when you see a high level of demand which can be translated as the total network hashrate being rather large. At this time I see the number one Cryptonight bases coin is Monero. The Monero network hashrate is around 1000mh/s. This is very high and it is a testament to the fact that Monero is perceived to be a coin of value worth the effort to mine. Electroneum, at this time, has the next highest network hashrate of all Cryptonight coins. Currently it is bouncing between 250-300mh/s. This level of mining support tells me there is significant value in mining ETN.
So, back to the emission rate. The emission rate of new coins is often pretty high. This is especially true for ETN. Like other coins, Sumocoin excluded, the emission rate is constantly decreasing. This feature isn't remarkable in itself, but in the case of ETN it will be more interesting than it is with other coins. I did the math for the ETN long-term emission rate and I figured that ETN block rewards will become effectively very small in comparison to the current reward in 10 years. In 5 years, the block reward will be about 10% of what it was at release. About 750 ETN. In another 5 years following that, it will be about 75 ETN. Understand, these rewards will be true regardless of the technology advances that occur. Even if the network hashrate grows to 1000Gh/s, the emission rate will not change and the rewards will still decrease to these numbers. In short, ETN will become much harder and expensive to mine. This will have a direct impact on the value of ETN in the future.
So how much of an impact am I talking about? I'm going to throw some numbers out there. These are Very Conservative numbers, but I feel they are realistic for anyone interested in the long-term outlook. Assuming that ETN does nothing new from where they are today, it will be a safe conservative bet that ETN will be worth $0.25-0.35 in five years. If ETN can survive for five years, the five years following that will be the largest in growth. In ten years ETN will be worth $2.50-3.50.
Lambos? No, not really. But for all practical purposes, a very good outlook for long-term investors. For many, these numbers are unacceptable. And I get where those people are coming from. They see coins skyrocket 10,000% in one year and they want some of that magic. The purpose and use case behind ETN could very well drive the price much higher than my predictions. But understand that my numbers are based on nothing new or remarkable happening for ETN. And with that, I should also provide a sober and alternative possibility for the future of ETN as well. This is what I call the Solidcoin Fate.
Remember Solidcoin? Yeah, a lot of people don't. Solidcoin was a new coin that was introduced around the time that Namecoin was developed, although it wasn't related to NMC in any way. Solidcoin became the first new Crypto to have a significant percentage of miners drop BTC mining for mining Solidcoin. Things were looking great until the developer suddenly dropped support and abandoned everything. It wasn't a scam coin. The developer simply never intended it to take off like it did and became overwhelmed and disillusioned with technical difficulties at the same time. Thus, Solidcoin evaporated as quickly as it became a success. The lesson here is, a centralized coin can suddenly go belly-up if the developer suddenly abandons it. While I don't expect to see that with ETN, it is a possibility that could occur. Hopefully, as was the case for how Monero was born, a large group of supporters will take over and continue development as a decentralized coin. The number of supporters for ETN certainly supports a scenario like this if the worse were to happen.
No matter what happens, it will be an interesting ride to take. As a holder and user of ETN (Yes, I use it. Bought several Steam games with it. It's not a currency if you don't ever spend it.) I naturally want to see the best outlook become reality. I am also a realist, and I don't subscribe to dreams of riches and "lambos". Even if magical things happen in the world of Cryptos, it isn't responsible to make investments and decisions based on fantasy. The reality for ETN, in my opinion, is that it will be a great coin to hold if you can hold for 10 years. I can hold for 10 years and I will. My investment isn't so great that I need to worry about it or that I'm always thinking about it. If yours is, you aren't investing responsibly. Best of luck to everyone.
submitted by ch196h to Electroneum [link] [comments]

What Happened To Namecoin (NMC) and Peercoin (PPC)?

What Happened To Namecoin (NMC) and Peercoin (PPC)?
Namecoin (NMC) and Peercoin (PPC) were well-known during the early days of altcoin trading. Back when CoinMarketCap launched in April 2013, Namecoin was number three, and Peercoin was number four, with only seven cryptocurrencies listed in total.
Both of these cryptocurrencies brought unique technology to the table and were perhaps considered major cryptocurrencies, but now they practically never come up in discussion. Here, we’ll explore what happened to Namecoin and Peercoin.
Namecoin (NMC): Decentralized DNS Service
Namecoin’s primary purpose was to provide a decentralized domain name service (DNS) system. The .bit top-level domain name is registered via Namecoin (NMC) transactions and is decentralized versus the typical .com domain names registered via ICANN.
Also, Namecoin (NMC) can be used to register personal identities like email, GPG, and Bitcoin addresses, which is possibly useful when doing peer to peer Bitcoin trading.
Unlike ICANN registered domains, .bit cannot be censored or seized and is also much more secure. Further, .bit domain names propagate within about 40 minutes, versus 24-48 hours for standard DNS.
This is certainly useful technology for the development of a decentralized web, but a study in 2015 found that there were only 28 active .bit domain names out of 120,000 that were registered. This is probably because .bit websites can only be viewed with NMControl, which requires Python and is optimal for Linux but hard to install on Windows.
Essentially, the barrier for figuring out how to view .bit websites practically makes it part of the deep web except it’s even harder to use than the Onion browser since the Onion browser works fine on Windows.
During the late 2013 rally, when Bitcoin first exceeded $1,000, Namecoin (NMC) reached a market cap of $100 million. During the long bear market that followed, Namecoin (NMC) dropped below a $3 million market cap in late 2016.
The major crypto rally of late 2017 saw the Namecoin (NMC) market cap spike to an all-time high of $133 million despite very little use of the Namecoin platform for its actual purpose.
Currently, Namecoin (NMC) has a market cap near $10 million and very weak total global volume of less than $20,000 per day. Namecoin is certainly unique but was not easy enough to use to fulfill its mission as a decentralized DNS protocol. That being said, the developer team is still active, and perhaps at some point in the future, they can revamp it to be easier to use.
Peercoin (PPC): The First Proof of Stake (PoS) Cryptocurrency
Peercoin (PPC) pioneered the Proof of Stake (PoS) algorithm, which is an energy efficient way to secure a blockchain and incentivize users to hold coins since they earn interest. Peercoin (PPC) is a hybrid of PoS and Proof of Work (PoW), and pays 1 percent interest per year.
Peercoin (PPC) hit a market cap of $150 million during the late 2013 rally when Bitcoin first exceeded $1,000, and then leveled off to $5 million during the long bear market in late 2016.
During the late 2017 crypto rally, the Peercoin (PPC) market cap hit an all-time high of $235 million. Currently, the Peercoin (PPC) market cap is $14 million with daily trading volume of $100,000 per day.
In summary, Namecoin (NMC) and Peercoin (PPC) both had unique characteristics. Namecoin provided a platform for decentralized DNS services, while Peercoin (PPC) was the very first PoS cryptocurrency.
Besides these unique characteristics, both coins have faded into obscurity. That being said, Namecoin (NMC) and Peercoin (PPC) seem to get revived during major crypto rallies, with both cryptocurrencies experiencing serious pump and dumps during the 2013 and 2017 crypto rallies. Since these coins are not dead, they will probably pump again when the next big crypto rally comes.
submitted by turtlecane to CryptoCurrency [link] [comments]

A proposal for nyms on Bitcoin

Check this out, it's very similar to namecoin's id/ feature (but apparently more restricted in scope).
nyms are registered with an "enrolment" process and an additional "proof of burn". This seems to allow for a variable cost when registering nyms, unlike namecoin which has a fixed cost (when denominated in NMC).

That leads to a secondary question I've been pondering - what is the reasoning for the fixed fee, and how would namecoin allow for market based pricing of name/domain registrations? I understand there's already a market rate in the exchange rate from BTC to NMC, but what happens if NMC becomes very expensive or very cheap?

submitted by mimikamik2 to Namecoin [link] [comments]

"Having the highest Hashrate doesn't necessarily imply the highest security"

Pardon my ignorance. I'd like to know what backs this statement. I went to look for merged mining and it does look like a winning hand for both (or all) the blockchains involved.
I guess this cannot be answered in a simple way so I'll go right ahead and post in an organised way all the questions that I have in mind:
  1. Why is this statement correct? "It doesn't necessarily imply". Can you specify when it would not be true and why not?
  2. Why is it that Namecoin gathered so much Hashrate when compared to other merged mining coins? Is it just the first mover advantage?
  3. Can any other coin do the same and just "turn on" the possibility to merge-mine with Bitcoin and even testnets and other SHA 256 related chains?
  4. If yes, why don't all coins just free load off the Bitcoin hashrate power?
  5. Why, for a brief period in time has NMC actually surpassed the hashrate of the very Bitcoin? Does this mean that all Bitcoin miners are also helping NMC but not all NMC miners are helping Bitcoin? (I'm aware it goes a bit against the whole definition of merged mining) In this case: given its low price wouldn't these people be better off just mining Bitcoin?
  6. Without trying to sound like much of a Buzzkill, what is the incentive for miners to go out of their way to secure NMC network? With this amount of Hashrate one would think that the difficulty is through the roof although price not so much. What keeps it ticking? I notice that the hashrate goes up with that of Bitcoin's, but I doubt that the awareness does too. Bitcoin's Hashrate has evolved exponentially and so has Namecoin's. But NMC's actual popularity is not really comparable to that of BTC. Why is it that their hashrates seem to go up so tightly correlated? Are all these people merged mining without knowing?
  7. Also, why not just have NMC alltogether and leave BTC behind? The tech is the same but this one also solves the "decentralizing DNS" issue..

Ok, these are my questions if someone is kind enough to read through and answer each. I'm sorry if I'm asking dumb questions. Thanks a lot.
submitted by doyouevenliftbru to Namecoin [link] [comments]

My biggest regret, a saved email from 2013.

12/20/13 K: Hey man, it's K. Is your name D? Anyway...getting money onto BTC-e can be tricky if you are trying to deposit USD. I kind of just had to learn by trial an error because I didn't know anyone that could teach me, because i am the only one that invests in crypto currency that I know.
Anyway, coinbase is probably the best bitcoin wallet service in the United States. It is definitely the largest and most reputable. Use this referral link: Once you sign up using this link, it will give us both some free money after you have purchased some bitcoins. The process takes a little while to get all started up, but it is worth it because it is so easy to use after. You can instantly buy bitcoins, and then use those bitcoins to send to BTC-E to purchase whatever other coins you want. I invest pretty heavily in LTC. The only way I have been able to do that is by buying bitcoins on coinbase, and then sending them to btc-e. Let me know if this works for you..
K: Let me know if the email reached you
D: Yep. I got it. Two to three days for the deposit verification into my bank account. Thanks for the advice. I take it you work in finance?
K: Yeah I do :). Coinbase takes a bit for the verification process but it is super easy to use after that. When you sell bitcoins, they just deposit the money right back into your bank account. It's the easiest service that I have found that is reputable.
D: Have you ever tried trading for small margins? I made about 0.60 USD since I started last night. I got my initial funding by mining FTC. I'm trading BTC.
D: Actually up to 10.81 after my last trade. Got in at 625 and sold at 639.
K: I mainly buy and hold for long term. I bought some NMC to flip, but it dropped in value steeply so im still holding it. I buy more every time it dips. Sent via wireless, please excuse any typos...
D: Cool. No worry about typos. I type all day at work so don't mind as well. I give up on accuracy at 5. My friends also aren't very much into crytpo currencies. I like the technical aspect but I'm more interested in trading on BTC-E. I must have watched about 12 hours of bitcoinwisdom since yesterday. It was my first time analyzing real time data. I can't believe how much info you can obtain just from identifying patterns. I have a quick question about a 401k if you don't mind. So far my year to date is 26%, is that good?
K: Yes, very good. You must have had it set up aggressively with the investing choices (which is better to do when you are young). Good stock market returns are around 12% so you are more than double, but don't be surprised if there is a correction to lower on the returns there too.
D: Yes. I'm over 50% in small cap and am young. Is there anyway to avoid that correction by reallocating?
K: Nah, just leave it. At least you have a 401k, most people are paycheck to paycheck
D: Defiantly. I can't imagine how some of my co-workers get by paying overdraft fees each month. Have a good night. I'll let you know when I buy some coins on that site.
K: Cool, let me know. Let's make some money! :)
12/22/13 D: Howdy K, I'm still waiting on the deposits in my bank account by Coinbase. Thanks for the referral link, I'm looking forward to that free $5 of BTC. Up to $12.30 USD on BTCE, looking to break $13 tonight. Can't wait to get some more trading funds.
K: It takes a bit for the initial deposit. I think it took my bank almost a week :(. Once you are done though everything is quick. If you add a credit card too, you can buy up to 10 btc instantly per week
D: Awesome. Have any suggestions? (pic) attaches picture of small gains trade history
K: What do you mean by sugggestions? Like on your trading?
K: Can you deposit more money? It looks like you aren't fully able to enjoy the full gains of your trades because the amounts that you are trading are a little small. If possible I would suggest buying 1 btc when the price is the lowest of the day, and then trade from there..
K: Also i would stay away from ftc for time being
12/24/13 K: Hey bud, i just got some free money from coinbase :) did you get it too? Pretty cool huh?
D: Yes sir. 4 days for my order to fill, can't wait.
12/25/13 D: Merry Christmas!
K: Merry xmas! If you add a credit card you can instant buy up to 10btc. What other coins are you buying right now? I mainly just have BTC and LTC
D: Does the credit card have to be a Visa? I'm mining about 8 FTC per day and trading for BTC at market. Then I trade BTC/USD for 0.10 - 0.40 profits. Working on a spreadsheet right now which you can see if you are interested.
D: spreadsheet sends corny orange and grey spreadsheet
K: Think it can be mastercard or amex too...
K: Nice LTC rally today :). I just picked up more LTC yesterday too
D: I tried adding a mastercard and discover but it wouldn't work. I've been watching the rally. Waiting to buy in to BTC at $656.
K: Shit that sucks, email support and ask if they accept mastercard? I find that odd that they would only accept visa
D: No worries. Deposit should clear 12/31
12/29/2013 K: Hows it going? Did you get your btc?
D: Hey K. Not yet, they will be deposited 12/31. Bought at $651
K: Nice so you are already up :)
K: How much did you buy? You should buy some and hold long term if possible too
1/2/2014 D: Happy New Year, K. I only bought 0.2 BTC for about $131. I'm at a total balance of $179.07. Started mining FTC again for the few extra dollars per day.
I think I read somewhere that there is a cap of 21 million BTC that will ever be in existence. 21 million on the internet is subtle considering how many views cat videos get on youtube. 21 million out 7 billion people is even smaller. Sometimes I find it hard to imagine millions and billions but I always think about this one thing: 1 million seconds is about 11 days, 1 billion seconds around 31 years. I'm very optimistic about the long term. Probably going to set aside at least 1 BTC in the near future.
Have you ever seen BTC listed on ebay? I created an auction yesterday for 0.1 BTC, $120.00. It sold within 3 hours but the buyer flaked out after I told them they would be receiving the BTC-E redeemable code in the mail. They created a dispute stating that the ebay/pal accounts were accessed by an unauthorized third party which is currently in process. I didn't lose anything and actually sold back the 0.1 at $775 after buying at $740 last night. I'm considering re-listing some BTC on Ebay but don't want to deal with reversed payments. Have any insight?
K: I heard ebay can be a nightmare with sellers getting scammed by buyers with chargebacks. If you are going to do it, I would recommend selling maybe paper wallets only, that you actually have to mail to them. That way you can have a tracking number for your shipping. If you want to sell through paypal, be careful, I think any mention of crypto currency can get your account frozen. Not positive about that though. Try selling to people on the forums, I think that would be easy. Honestly, I think just buying what you can and holding long is the best option to make the best returns. Look how the market has gone today D
K: 21 million BTC is not even enough btc for each person in my state to have 1, let alone the United States, or the entire world. As long as the demand stays high, the price could become astronomical if some major players like wall street enter the game. Just think, if Wall Street threw like 100 mill at Bitcoins (which is not that far-fetched), the price would probably jump to like 3-4k per BTC after that 1 day alone…
D: I don't think I'm going to sell anything else on Ebay until I come up with a better way of protecting against charge backs. The market has been awesome today.
D: That's very true. I think my next purchase will be 0.5 BTC to keep in my wallet.
K: Have you seen the stuff on zerocoin? Looks interesting, should be out this year...there has been a lotta hype around it..
D: Haven't heard anything about it until just reading an article now. Looks interesting and they make a good argument about anonymity. I only read over it briefly, but it appears what they're proposing would add an additional transaction fee the the process. Cool concept. Are you good with candlestick charts and patterns?
K: Somewhat. I learned them in college but stopped using them until now, so I am pretty rusty…I get the concepts and all, but I am not a professional at them by any means. I saw my buddies wallet the other day…he is pretty stacked. Over 250btc and over 1000 LTC!
D: That is pretty stacked. About 500k stacked, right? Are you familiar with the creator(s) of bitcoin "Satoshi Nakamoto"? Is it actually one person? There are quite a few claims as to who or whom Satoshi may be.
K: Im not familiar, i heard it was a team of people under that one name
D: I wonder if it was created by a goverment. Like some NSA type agency. Kinda like how the darknet started off as a Navy project.
K: Nah I doubt it. Government wouldn't create something that could possibly pose a threat to its own currency.
D: That's a good point. The future of BTC is exciting.
1/6/2014 D: Started trading NMC recently. Check ou the spreadsheet attaches another shitsheet Still just testing the water before I start making bigger trades. Buy any more BTC/LTC lately?
K: Cool man.. Year i got some LTC at $16 right before it went back up :)
1/7/2014 D: Nice buy. Catch the market today? China's equivalent of Ebay banned the sell of btc, ltc, mining gear, etc.
My understanding on of China: China’s central bank regulated the virtual currency for the first time on Dec. 5 by banning financial institutions and payment providers from conducting transactions in the virtual currency
Chinese central bank officials told third-party payment service providers to stop offering clearing services to online Bitcoin exchanges
China's Ebay bans sell of BTC in accordance to the central bank's ban effective Jan. 31. Acting as a clearing house of BTC.
I'm now $180 long NMC. I might invest 1k soon on BTC, any thoughts on an upcoming entry point?
K: Hmmm not quite sure on entry point. I am in the red as of today on NMC. Im trying to get it back to 0.01 btc to convert my nmc back to btc, i missed it on the last push. If you are investing 1k and holding long, then any of the daily ups and downs dont matter because in the long run we hope it will be way up. If i were you, i would just wait for a big red candle and then try to by at the bottom. Maybe $800/btc is good?
K: The part that sucks is that it seems like BTC value works so hard to creep up and up slowly, and right when it seems like it is going to pick up some momentum, BAM! More bad news comes out and slams the market. This cycle seems to keep repeating over and over right now…
1/9/14 K: I got 2 more btc :)
1/27/14 D: Sorry, haven't check this email account for a few weeks. Been working a lot of OT. What price did you buy in at on 1/9? I just sold a majority of my coins for cash. I picked up 3 LTC at 19.50 though. What's gonna happen 2/1/14?
Also, do you know how long it would take for a tax return check if you have your taxes in prior to the 31st? I finished those 2 weeks ago if it matters.
The other day the dow finished pretty low. Do you have any thoughts about the US economy over the next 6-12 months?
K: What’s up man…huge dump off of BTC right now on almost all exchanges (except gox which is bs anyway). I bought some more LTC at around $19 too.
I am holding all for long haul, although it would have been profitable to sell this morning, and re-buy after this dump off. I have no idea what is going to happen on 2/1. Last time when senate met, everyone thought the party was over, and then there was a huge rally in prices instead.
I am trying to figure out the right price to buy more btc right now… what do you think?
D: Sorry. Copied and pasted instead of attaching the pic. I think we'll have to see if it breaks that support. What about the arrest of that guy at bitinstant? *attaches picture of BTC 4h chart with a random line pointing downward
K: I don’t think that one arrest will tank the market like that. I am wondering if the confiscated silk road funds are being trickled through the exchanges by the feds. It seems weird the sell off right now. It almost seems systematic. Like there is a huge sell off that clears all the buy orders. Then it is calm for a few minutes, then repeat. Really strange…
D: But I wonder how they brought charges on him? Could they hold anyone accountable who sold BTC to a person using it to buy drugs on silk road? If the Feds are selling that would explain it. They seized 144,000 and they're saying the owner of silkroad may have 600,000 stashed in a wallet.
K: I think the number is more like 30,000 btc
D: The spokesperson says the approximately 26,000 Bitcoins seized are just the ones that were held in Silk Road accounts. In other words, it’s Silk Road users’ Bitcoin. The FBI has not been able to get to Ulbricht’s personal Bitcoin yet. “That’s like another $80 million worth,” she said, explaining that it was held separately and is encrypted. If that is indeed what he’s holding, that’s close to 600,000 Bitcoin all together or about 5% of all Bitcoin currently in existence. (Update 10-25: The FBI says it’s seized 144,000 Bitcoins, or about $28 million, that it believes belong to Ross Ulbricht.)
K: I don’t understand how they were able to confiscate them, when bitcoins are not yet considered money, so they shouldn’t fall under forfeiture rules…
1/17/18 - D: Wish you the best K and hope you held those coins longer than I did.
TLDR: Meet a friend in December 2013 that gave me advice to buy and hold BTC long term. This is one of our email threads from around that time, edited to remove personally identifying information. I used all my bitcoin for pizza following the fall of Mt. Gox and the subsequent bubble burst.
submitted by hampering to CryptoCurrency [link] [comments]

IOTA is a centrally owned and controlled coin, here's why. (Posted here because it would be deleted elsewhere.)

After u/pyalot's IOTA Warning thread, I was motivated to dig a little bit.
Here's what others may not be aware of that I've found so far:
Excluding the funds of the foundation, the unclaimed Iota as well as the Finex cold store address yields the following distribution: (64.47% of IOTA is in the top 100 addresses) as of August 8th
"In fact, it can be shown that the strategy of one large double-spending transaction increases the attacker’s chances of being successful. In the “ideal” situation of this mathematical model, this attack always succeeds."
Like u/pyalot said "If your concept does not yet work 2 years in, it will never work."
If anyone has anything else, let me know and I'll add it.
submitted by 324JL to btc [link] [comments]

[2015-08-19] Challenge #228 [Intermediate] Use a Web Service to Find Bitcoin Prices


Modern web services are the core of the net. One website can leverage 1 or more other sites for rich data and mashups. Some notable examples include the Google maps API which has been layered with crime data, bus schedule apps, and more.
Today's a bit of a departure from the typical challenge, there's no puzzle to solve but there is code to write. For this challenge, you'll be asked to implement a call to a simple RESTful web API for Bitcoin pricing. This API was chosen because it's freely available and doesn't require any signup or an API key. Furthermore, it's a simple GET request to get the data you need. Other APIs work in much the same way but often require API keys for use.
The Bitcoin API we're using is documented here: Specifically we're interested in the /v1/trades.csv endpoint.
Your native code API (e.g. the code you write and run locally) should take the following parameters:
The API call you make to the site will yield a plain text response of the most recent trades, formatted as CSV with the following fields: UNIX timestamp, price in that currency, and amount of the trade. For example:
Your API should return the current value of Bitcoin according to that exchange in that currency. For example, your API might look like this (in F# notation to show types and args):
val getCurrentBitcoinPrice : exchange:string -> currency:string -> float 
Which basically says take two string args to describe the exchange by name and the currency I want the price in and return the latest price as a floating point value. In the above example my code would return 349.25.
Part of today's challenge is in understanding the API documentation, such as the format of the URL and what endpoint to contact.


Many thanks to adrian17 for finding this API for this challenge - it doesn't require any signup to use.
submitted by jnazario to dailyprogrammer [link] [comments]

Blocknet FAQ

Community-Produced FAQ document
What Is Blocknet?
The Blocknet is a general-purpose infrastructure for inter-blockchain services. It is designed to enable the emerging “token ecosystem.” The first product build on this infrastructure is a decentralized exchange.
What Does It Do?
The Blocknet enables inter-blockchain services, like decentralized exchange, monetised API consumption, and p2p digital service delivery. These are core enabling features of inter-chain dapps.
How Does It Work?
To support inter-blockchain services, the Blocknet has three core components, which work together to provide three core services.
The core components are:
The core services are:
What Is a Decentralized Exchange?
A decentralized exchange is a service enabling counterparties (which may be people or machines) to exchange one currency or token for another, without the involvement of any third party as an intermediary.
The term “decentralized” denotes matters of control rather than the distribution of processing; the ideal of a decentralized solution is for the parties to a given interaction to be self-sovereign actors, in the sense that no third party is required to act on their behalf in order for the interaction to take place.
How Does a Decentralized Exchange Work?
Exchanges have four core functions:
Hence, in order to be a decentralized exchange, each of these core functions must be decentralized.
The Blocknet decentralizes them in the following ways:
Why Is a Decentralized Exchange a Key Enabler Of the Token Ecosystem?
Decentralized exchange makes blockchain services intrinsically monetizable, removing the friction and high costs of traditional payment networks that have prevented the monetisation of the bulk of the API ecosystem.
Due to the decentralized exchange, consumers of a service may pay in their native token even if the service consumes a different token. In a world in which (a) there are already thousands of blockchains, and (b) blockchains bloat inexorably, and so it is advisable not to support many services per blockchain, monetising inter-chain services is both an operational necessity and an ecosystem-enabling service.
What Coins Does the Decentralized Exchange Support?
The Blocknet was designed to maximise interoperability, and so most blockchain tokens may be integrated with no coding required.
The current integration requirements are:
As a result, the Blocknet supports the majority of cryptocurrencies in existence, and no permission from anyone is required for these to be traded on the exchange.
The current list is:
How Fast Is the Decentralized Exchange?
However, note that once you have completed a trade and received coins, you will be dependent on their blockchain’s accepted confirmation time before your coins will be spendable again.
Note: A future enhancement to the decentralized exchange may include a filter on the order book to enable traders to trade coins with less than the number of confirmations conventionally agreed upon as “safe.” This incurs a degree of risk for the benefit of supporting trading styles that require rapidly entering and exiting a position, such as scalping.
How Private Is the Decentralized Exchanged?
Because decentralized exchanges do not require traders to submit KYC information or divulge anything else about themselves to a third party, traders enjoy a naturally high degree of privacy.
However, for most wallets, aspects of transactions are linkable to IP addresses, so in order to obfuscate that, one might use TOR or I2P. The Blocknet’s DHT network overlay does not use IP addresses, however.
Combined with any privacy-centric coin, a decentralized exchange run over IP-obfuscating tech is a near-perfect mixing solution. For example, one may trade some coins for Zcash, sends them to a different address, and then trade back again.
What Are the Possible Applications Of the xBridge Protocol Other Than a Decentralized Exchange?
The Blocknet is designed as infrastructure for the emerging token ecosystem. Any service or orchestrated sequence of microservices provided by dapps may be delivered over the Blocknet's infrastructure.
Using decentralized exchange, these services are intrinsically monetizable, removing the friction and high costs of traditional payment networks - friction which has prevented the monetisation of the bulk of the API ecosystem.
Due to the decentralized exchange, consumers of a service may pay in their native token even if the service consumes a different token.
What Are the Benefits Of Running a Node? How Many Blocks Do I Need To Run One?
There are two types of node: a "service node" and a “trader node”. Service nodes do not handle or control any trader's coins. Their function is to collect and distribute trade fees. Typically a service node operator will run multiple full node wallets of whichever coins (s)he wants to support, in order to garner as many trade fees as possible. Trader nodes enable one to trade on the decentralized exchange.The amount of BLOCK currently needed to run a service node is 5,000 BLOCK. To use the exchange you will not need any BLOCK.
Will There Be Fees For Buying/Trading On the Blocknet Exchange?
Yes, there are fees, though they are significantly lower that centralised exchanges.
The fee structure is as follows:
Will A User Need BLOCK To Participate On An Exchange?
No, to use the exchange you will NOT need any BLOCK. Only the service node operators will need BLOCK in order to collect and distribute trade fees. Additionally, the service nodes do not handle or control and trader’s coins. The sole purpose of the service node is to only collect and distribute trade fees.
Staking and fees on the Blocknet are bundled together in a 70/30 split between nodes and stakers. This is a combination of POS staking and network trading fees. Staking is estimated to be between 9% - 14% in the first year. Nodes will receive 70% and stakers will receive 30%. This means that if you do not have enough Block to run a node, you will STILL get part of the node fees, and if you run a node, you will also get part of the stakes as well. Your wallet must be unlocked to actively stake and receive rewards. There will be 525,600 new blocks created annually (at 1 block per minute) with decreasing inflation each subsequent year.
Block Specs
Core Team
Set up guides
submitted by Blocknet to theblocknet [link] [comments]

Will the 55% be 55% of the crypto you had, or an assortment of 7 crypto-currencies?!!!!

No one seems to have an answer to this and its IMO by far the most important question here. Yes of course, getting anything back is better than nothing. But if you had 10 bitcoin, you should receive 5.5 bitcoin back. If you had 100 litecoin, you should receieve 55 litecoin back. If you had 100 ETH you should receive 55 ETH back. But from the post and translation this is not at all clear.
If we can get 55% of the crypto we had before this whole thing happened, I and i'm sure many others will be very satisfied. I can not for the life of me understand why if you had 10 bitcoin, instead of giving you 5.5 bitcoin you get the same value in nmc, nvc, ppc and all this other bs. It makes absolutely no sense.
It would be one thing if they were saying everyone will get the value of 5.5 bitcoin in fiat, I mean I would be much less happy in this scenario bitcoin is going to continue on much higher, but it would at least make sense in my mind as a solution. I would be much happier with 5.5 bitcoin. But to give literally everyone on the exchange all of these shitcoins as part of their 55% is extremely strange, unfair, and makes zero sense. This would be horrible. What am I goign to have to download 7 different shitcoin wallets? I suppose I could immediately convert them all to bitcoin, yet that still would not make this solution in anyway fair or logical.
No matter what was seized, every user should get x% (in this case 55%) of what THEY ALREADY HAD at the time of seizure. This is not a bankruptcy court, this is the solution BTC-E is proposing. Of course, there is only so much we can do, but i think its important that we should not be happy wiht this *if it is the case. They still have the power to change this. If they want people to use their exchange going forward and recoup part or all of the lost funds, they should still want to make people happy. There is absolutely no reason why they can not do this, even if they were to lower the % I would much prefer that over getting 7 shitcoins. Or even if they delayed withdrawal even longer I would still much prefer that.
Would love all of your input on this, sorry if this was a bit of a vent, it was. But I think this is the most important aspect of their proposed solution. If I am wrong, and you are getting exactly 55% of the crypto you already had, then I apologize, eveyrone has a different answer on this.
this post is only about the 55% please do not comment on BTE or any aspect of the 45% we may or may not receive down the line
submitted by throwaway7877777 to BTCE [link] [comments]

Blocknet 2018: What to look forward to!

With 2017 coming to an end, we wanted to provide the community with some updates regarding what is on the horizon for Blocknet in 2018, but first let’s take a look at what this community has accomplished so far.
2017 was a busy year for Blocknet! With the launch of the new production chain, the Service nodes launch on mainnet, the partnership with VSA to build the Blocknet UI (as well as the UI Reveal) and the implementation of the Community Governance System, it has been a very productive year. This is what was achieved…
Blocknet in review 2017:
BitBay (BAY), Bitcoin (BTC), Bitcoin Cash (BCH), Blocknet (BLOCK), Dash (DASH), Decred (DCR), Digibyte (DGB), Dogecoin (DOGE), Dynamic (DYN), GameCredits (GAME), Faircoin (FAIR), HShare (HSR), LBRY Credits (LBC), Litecoin (LTC), Monacoin (MONA), MonetaryUnit (MUE), Namecoin (NMC), NavCoin (NAV), Particl (PART), Peercoin (PPC), PIVX (PIVX), Potcoin (POT), Qtum (QTUM), Sequence (SEQ), Stratis (STRAT), Syscoin (SYS), Vericoin (VRC), Verge (XVG), Vertcoin (VTC), ViaCoin (VIA).
Recent Developments
In addition to the above, there are some other recent developments we would like to mention:
What is on the Horizon for Blocknet in 2018?
Moving forward into 2018 there are many exciting developments to look forward to:
Note 1: Upcoming milestones are subject to change, and some require new ground be broken in crypto, and thus are to be interpreted as intents, not commitments. Development is in an agile manner and so is not to deadlines; Rather, continual progress is to be expected.
Note 2: All names are Rocketchat community handles.
A very merry Christmas and a happy and prosperous new year to the community! 2018 will be fantastic!
submitted by Blocknet to theblocknet [link] [comments]

Noble coins?? @biolizard89

Namecoin has a great cause, like bitcoin and i'm finding it easy to draw the line between them and almost all coins. I am just wondering what your opinion is on the 'scams' that u mentioned in the vid you shared last week. Is a big player such as IBM getting involved with lumen, for example, something you look upon favourably? Also how many coins do you feel you would want to be associated with if not working on nmc? A number preferably, don't need detail.
submitted by mjgill89 to Namecoin [link] [comments]

Namecoin is much more valuable than Bitcoin and way undervalued.

While BTC continues to be adopted as a currency by the mainstream the power of NMC is being overlooked and undervalued. What BTC does for money, NMC does for the internet. In the not so distant future when everyone is comfortable using BTC, .bit domains will be the portal of choice for any company wanting to do business using Bitcoin. Give it time and eventually .bit domains will become very valuable. Am I wrong?
submitted by namecoinbeliever to Namecoin [link] [comments]


The following post by CoinhubExchange is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link: BitcoinMarkets/comments/7h1u4j
The original post's content was as follows: is an exchange launching on Monday, December 4th. Users can sign up now and start trading. To give you as much information about us as possible, I’ve arranged a Q&A specifically for this thread and I would be very happy for you to ask your own questions and I will get back to you as soon as possible! Q- What currencies do you support?
A- On the fiat side, USD, EUR, GBP and SGD. Crypto side, BTC, ETH, LTC, Dash, Doge, NMC, BAT, Civic, MTL, SNT, EOS, GNT, BNT, OMG, REP. We will have support for BCH, ETC, XRP and PPC in a few days’ time as well.
Q- What is your fee structure like?
A- 0.25%. MakeTaker fee. We will, however, be launching a promotion for 3 months for market makers at 0%. We will publish when this begins on our social media pages over the next few days
Q- Many cryptocurrency exchanges have been hacked in the past, what kind of security can we expect?
A- Our exchange was built with security at the core. We have a very strong security team that are constantly assessing our infrastructure and application against latest threats. We follow best practices and industry standards such as OWASP and PCI based testing. 90% of coins on the exchange are kept in cold storage wallets, disconnected from the internet.
Q- What differentiates you from other, established exchanges?
A- We are committed to becoming the industry leader in customer support. We are aware of customer frustration at how slow customer support can be on crypto exchanges, and our team is ready to become the industry leader in this respect. We are also very close to the community and to blockchain developers.
Q- Do you accept customers from the United States?
A- Unfortunately, not at this point. We currently accept users from all around the world except for customers from the U.S and countries on international sanctions lists.
I’ll leave the rest of the questions for you and will endeavour to answer as soon as possible!
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Why can't we try ... and see what happens?

I know I'm probably going to get torn apart for this, and I really don't want to, but, I feel it's worth saying.
I've been a shibe for a while. Pretty much almost nearly as long as 'a while can be' without being there on day one. There's been a lot of suspicion lately of folks but, really, about a month back, I stopped posting, and took to just reading because everything got way too heated in here - and for a lot of reasons, the heat was just too hot, so I got out of the kitchen.
Anyhow. Here it goes.
/coblee seems to at least be approachable. Why couldn't we try a temporary trial run of merge mining with LTC?
Barks and howls, I know... But I think it's because a lot of people are more afraid of what 'might' or what they don't know, versus what would really happen.
In a really short summary for those who are new and not in the know: Merged mining does NOT mean that Dogecoin would merge with Litecoin. It would simply mean that when you mine at a certain pool (YOUR CHOICE) - you'd get both LTC and Doge.
A lot of people say "No!" because of pride. Right now it's not just Dogecoin having trouble but EVERY altcoin. It's not putting your tail between your legs for two altcoins to ally. When things get bad, sometimes allegiances are the best defenses. Power in numbers, and all.
Others say "No!" because they feel it would couple Dogecoin's value to Litecoin forever. That's really just conjecture, though. Remember every miner has a choice as to whether or not to merge mine; not every pool would support it or choose to support it. It isn't a mandatory thing. We're merge-mining right now with Tacocoin, and nobody really even notices. I understand that Tacocoin of course doesn't have as much sway out there as LTC, but it hasn't really had a profound effect on either coin, except for helping Taco's hashrate some. (Generally the lower-rate coin gets helped.)
Back in the day, Bitcoin merge mined with Namecoin. It didn't destroy namecoin (even though namecoin's premise and purpose - domain registration and an alternate DNS system - didn't really take off.) in fact it seemed to help it somewhat.
With where Doge's value is (I don't believe it'll be here forever) - now would maybe be a time to swallow SOME pride (not all) and ask if LTC would be willing to let us do it on, say, a 1 month trial basis, with plans to discontinue and analyze, after that month is up? (It is discontinuable, as nobody really merge mines NMC with BTC anymore.)
I just don't see how that would hurt. Non-permanent and non-destructive, and every single miner gets to choose whether or not to do it. Nobody would be forced to do anything.
Then we'd have a little data to see what went on.
Please, understand, this is not an admonishment or any kind of vote of non-confidence, it's just an idea that it may be a good time to try an experiment that really should not harm Dogecoin, and hoping to open some people to considering some new paths. We don't have to take them, but I think this would be a way to test it and see how we come out.
submitted by michidragon to dogecoin [link] [comments]

BCH (bitcoin cash) now available if you had a BTC balance at 2017.08.01

BCH (bitcoin cash) has been credited to accounts equal to their balance of BTC at the time of the fork (2017.08.01)
You can cash out your BCH using "my account" -> "send coins" in the website menu. First click "BCH" on that page. You will need to use a CashAddr style address. If your BCH wallet does not support CashAddr then you can use the address converter at - but note: DO NOT put a bitcoin address into this calculator. It is for BCH addresses from BCH wallets that do not support the new CashAddr addresses yet.
What is bitcoin cash?
Bitcoin cash (BCH) is a fork of Bitcoin (BTC). You can read more about it at It shares a transaction history with bitcoin up to the time of the fork. If a wallet had a bitcoin balance at the time of the fork then it is possible to unlock the same amount on the bitcoin cash blockchain. For every BTC prior to the fork there now exists a BCH.
Does this mean Bitminter will support all other forks?
No. Cash out your BTC to a wallet where you control the private keys, then you can take part in the forks you want. Always cash out. Take control of your coins.
Are we mining BCH now?
No. We are currently only mining BTC, plus NMC through merged mining with BTC.
It says my address is not a valid BCH address?
If you are trying to send BCH to a BTC wallet, stop immediately and get a BCH wallet you can send the coins to.
If you are using a BCH wallet that only supports legacy addresses, use the converter at to get a CashAddr type address.
If you are using a multi-currency wallet or online service that supports multiple currencies, make sure you are sending to a BCH address. Use the converter if necessary, but double check that you have picked a BCH address, not a BTC address.
submitted by DrHaribo to bitminter [link] [comments]

What is Omicrex?

What is Omicrex?

Omicrex is a crypto exchange platform operating in Greece, by crypto enthusiasts for crypto enthusiasts! Omicrex is supported by industry leading cyber security experts to keep the website secure from DDoS and hack attempts. Our team has over 30 years of experience dealing with high transaction volume businesses.

Why choose Omicrex?

Our mission is to deliver the fastest and most secure trading platform for the community. Providing an excellent customer support service, where no client is to small or big. We want all customers to be able to enjoy our exchange hassle free.
We are launching with 14 cryptocurrencies and will be adding more as we get community feedback. It is important to us that our platform performs to our high expectations before additional currencies and features are added. However, expect more coins to be added shortly and constantly.
Coins that are currently tradeable on our exchange:
submitted by MatiBugatti to omicrex [link] [comments]

If you had $1,400 to invest and had to buy a mix of gold and/or Bitcoin, how would you divide it?

I am asking this due to the fact that Bitcoin is about 1/2 the price of gold right now, down from recently having parity with gold. Also, with gold costing about $1,400 an ounce right now, with that being approximately my investment money I can risk, I'm asking for your input.
I know this sub is preferential to Bitcoin, but it's also a sub for people who oppose fiat currencies/central banking and understand basic economics/math/personal finance.
In addition to BTC being about half of one ounce of gold, it should also be noted that the price of gold has been drastically suppressed and will probably make a substantial comeback. Other things that I've considered are the multitude of other cryptocurrencies, easily about 5-6 (NMC, LTC, MasterCoin, Ripples...) that could all boom while BTC stays about even or grows less. On the other hand, gold is only rivaled by platinum, palladium and silver. Also, BTC has a high carrying cost (e.g. spending $50 for a good external hard drive for only a $700 investment?) and rapid price fluctuations, although gold isn't easily divisible and is not easily liquidated in exchange for goods. However, Bitcoin may see some serious regulatory threats in the future, whereas gold most likely will not. The way FDR seized private gold in the 1940s seems more like some kind of potential attack on Bitcoin today than anything that would happen to gold today.
So, what would you do and what would your reasons be? 50/50? 100% BTC?
Thanks a ton everybody!
submitted by RegD_ThrowAway to Bitcoin [link] [comments]

It's ALTcointip's first cake day! Say something nice, and get a random tip from /u/im14 in return!

Today marks 1 year since I have come to existence. While I didn't start processing tips until a bit later, it's an important day for me - my cake day - nevertheless!
A lot has happened in a year. My codebase has improved (394 commits, 26 releases, and counting!). Lots of tips and karma has been redeemed. And - nearly 100 distinct tip bots have been launched on Reddit using my codebase (some quite short-lived...)! Some of my siblings are listed on /ALTcointip's sidebar, but it's impossible to catch them all!
So, have you seen me before? Perhaps given or received a tip? Got any cool new ideas or suggestions? Come say hi, don't be shy! I might tip you randomly!
I'd like to say big, big thanks to all the selfless tippers and users of ALTcointip who have donated their time, coins, and energy to make this project a success! Without you, I wouldn't have a purpose and couldn't be more proud of what we've achieved together.
And finally, here's some year-to-date stats for you!
Total tips (value): $ 5074.15
Total tips (count): 2706
Total registered users: 3848
Total tippers: 313
Total karma redeemed value: $ 262.70
Top 10 Tippers
from_user total_fiat fiat
im14[stats] $ 874.72 usd
jonnylatte[stats] $ 506.92 usd
lukasbradley[stats] $ 385.49 usd
skippydeluxe2468[stats] $ 359.78 usd
alienwalkerx[stats] $ 263.84 usd
omgnohedidnt[stats] $ 227.39 usd
altoidnerd[stats] $ 225.19 usd
cyrusis[stats] $ 213.34 usd
headzoo[stats] $ 151.82 usd
0nederfoo1[stats] $ 132.24 usd
Top 10 Tips
from_user to_user coin_val coin fiat_val fiat msg_link
jonnylatte[stats] - Ƥ 101 ppc $ 203.44 usd link
omgnohedidnt[stats] mattcmultimedia[stats] Ł 4.8861 ltc $ 174.24 usd link
cyrusis[stats] megachu[stats] Ł 6 ltc $ 130.22 usd link
lukasbradley[stats] im14[stats] Ł 35.559 ltc $ 100.00 usd link
lukasbradley[stats] seansoutpost[stats] Ł 2.2043 ltc $ 100.00 usd link
im14[stats] mungojelly[stats] Ɲ 100 nmc $ 82.00 usd link
skippydeluxe2468[stats] evermore7[stats] Ȥ 2500 zet $ 51.01 usd link
jonnylatte[stats] seansoutpost[stats] Ƥ 128.63 ppc $ 50.00 usd link
altoidnerd[stats] im14[stats] Ƥ 8.1336 ppc $ 50.00 usd link
oi_mista[stats] seansoutpost[stats] Ł 1 ltc $ 47.85 usd link
submitted by ALTcointip to CryptoCurrency [link] [comments]

The LTC Pump, Dump and ? A Post-Mortem For Both Bulls And Bears

Our analysis on the recent market activities -
Text below (visit the article for images):
In our last post, we outlined some of the shenanigans that were occurring in the LTC marketplace (specifically on BFX). A week and a half later, both bulls and bears are in tears, after some of the most extreme volatility the LTC market has seen in years. We don’t expect this volatility to die down any time soon (a gift for traders), but we feel that the community at large should have a more thorough understanding of the underlying fundamentals of the price action that we have been seeing.
We have been performing a thorough analysis of the different market forces acting on the LTC (and to a lesser extent BTC) markets over the last few weeks, and are attempting to assemble the pieces so that traders can make an educated decision on what their next trades should be. There is a worrisome element to all of this (outlined in 1, below), and the last thing that the crypto community needs at a time when it is finally going mainstream is more traders/investors to get burned and have disdain for the crypto community because of a malicious actor.
  1. The Chinese LTC ponzi (surprising, eh?)
  2. Pump Team 6
  3. Return of old players
  4. New interest in Crypto/media coverage/Greece = new money
  5. Irrational exuberance and margin trading
Of what we outlined above, we only consider point 1, the ponzi scheme, to be a malicious actor. The others are viewed as forces in the free market.
More details on each below:
  1. The Chinese LTC Ponzi – Our friends over at BitMEX published an excellent blog post two days ago outlining the ongoing LTC ponzi scheme in China. This is the address which is being used for the scheme, it has now received over 8.5 million LTC. Bitcoin Magazine goes a bit more in depth on the scheme, and the statements different exchanges have made in response.
An analysis of the wallet address shows that the deposits and withdraws are still increasing dramatically, so the scheme is still ongoing.
687cbd1b-db5c-4645-9074-78eb93461120h/t: @Legion for the data, you can view it for yourself here
As stated in the Bitcoin Magazine article, some of the more customer oriented exchanges have taken steps to mitigate any damage from the ponzi, and have reached out to traders/investors to warn them of the unusual trading activity. Huobi posted the attached.
While we believe that the LTC ponzi group has contributed partially to the dramatic LTC price and volatility explosion, we believe that the other market forces acting in parallel have amplified both the upward and downward moves of LTC, creating a potentially hazardous trading environment for those who are ill-informed.
It is our belief that the LTC ponzi masters are the least sophisticated of the actors involved in the market gyrations.
  1. Pump Team 6 – Starting on May 22, 2015, it started to become clear that LTC was beginning to undergo a somewhat sophisticated crypto pump. The coin had been beaten down during the bear market, and was primed for some upward movement. Subsequent pumps in PPC and NMC seem to exhibit similar characteristics, which may be a coincidence or may be totally unrelated.
The pump team seems to be extremely sophisticated and precise with their actions, utilizing a variety of strategies across multiple exchanges in order to achieve their goals. It is our belief that the primary goal of the pump team is to accumulate BTC, with USD gains coming secondary.
Between May 22 and July 9, 2015, we saw the btc price (on bfx) rise from $240, to ~$296. This is a roughly 23% increase.
Screen Shot 2015-07-13 at 2.41.00 PMDuring the same time period, LTC saw a substantially more dramatic rise from $1.50 to ~$8.90, a roughly 493% rise.
Screen Shot 2015-07-13 at 2.40.38 PMTraders have been talking about the “decoupling” of ltc and btc over the last few weeks, but is it coincidence? Our take is, no. Watching the market action over the last few weeks during the ltc pump, it became clear that an actor was cashing out cheap ltc that they had purchased for btc, with 1k – 5k ask walls on ltc/btc strategically placed the entire way up. Similar size ask walls were chewed through on ltc/usd, providing some small breathers in the bull market. At the same time, iceberg btc asks were being thrown on okc and hidden btc asks on bfx during periods of significant upward ltc price movement.
What would the purpose of this be? If the pump team was able to successfully hold down the bitcoin market while pumping ltc, their btc earnings from the pump (via the ltc/btc pair) would be significantly greater than if btc were to pump at a somewhat steady rate during the same time period. One advantage of using leverage and/or futures to suppress the bitcoin market is that a player can have a significant impact with a small number of coins (this is why market manipulation in most markets ie: precious metals, is through futures). As long as the number of coins the pump team was accumulating through their ltc pump and subsequent ltc/btc sells was significantly more than what they were throwing at the market, it would be worth their while to perform this tactic even if their “shorts” were to be margin called later.
Around the time of OKC futures settlement last week, the speed of the ltc pump began to die down, and traders started to wonder when it would end. News of the Chinese ponzi was leaking out, and mysteriously, exchanges began to be DDOSed. It was clear that the pump team had made their exit, and margin traders high on hopeium started to sober up to reality, and realize that they were going to be fucked when they couldn’t close their FOMO long in time to escape.
As we believe that it was the ultimate goal of Pump Team 6 to acquire as many btc as possible, this is where we believe the second part of their plan came into play. Like we saw with their earlier ltc actions (reserving all swaps then pumping), these guys are experts. It is our belief, that at this time, they begun closing all of their btc “shorts”, while simultaneously pumping btc with the usd that they had earned during the ltc pump. You can see a large number of shorts which were closed at the time.
Screen Shot 2015-07-14 at 1.00.38 AMThis generated a large amount of btc buy volume across all exchanges, which coincided with DDOS attacks and the situation we are all too familiar with regarding OKC’s margin calls.
Our question is, did someone else realize what the pump team was up to, understand that they may be in a position to incur massive losses, and orchestrate some events in an attempt to mitigate getting rekt? New money is clearing coming into bfx, which has been leading the market as shady Chinese exchanges fade into obscurity. As victims (oops, we mean “traders”) migrate to other platforms, what lengths might actors in the bitcoin eco-system go to in order to attempt to save themselves?
These questions may go unanswered for the time being, but as more information leaks in, it is beginning to seem as if some of the tin foil theories might not be too far off.
  1. Return of old players – There has been a recent return of old players to the crypto community. Fontas is a regular on tv, and his return alone has hyped traders up enough to jump on the ltc bandwagon. While we feel that this impact may be minimum, it is important to note because there definitely has been a buzz around buying when he is present. Maybe this is just the newbs that weren’t around for his first rodeo, but either way this element can’t be ignored.
  2. New interest in crypto/media coverage – This one should be obvious. Check out /bitcoin any day and you will see coverage by every major news media outlet. The situation in Greece, possible bail-ins and the msm pushing bitcoin have definitely had an impact on the market place. How much new money is actually flowing in? This is difficult to tell, but we suspect it isn’t a large sum at this time. As the bull market continues, we expect to see more new money flow in, and geo-political/financial events can always have a sudden positive impact in the amount of money flowing into crypto.
  3. Irrational exuberance and margin trading – As with any mania, tears are shed by those left holding bags when we get a 404 buyers not found error. Combine the ease of margin trading in the crypto space with inexperienced traders and you have a recipe for disaster. Many got rekt buying the top, and hopefully will not be turned off to crypto forever from the experience.
So, where do we go from here? What should we expect?
The Chinese LTC ponzi doesn’t seem to have slowed down, but we question what their end game is. All ponzi’s must collapse some time, but what is their proposed exit strategy? Were they screwed when everything collapsed? Did they realize that LTC was being pumped at the same time by other actors? The continuation of transactions to their wallet suggests the scheme is ongoing, but the price action in the market place (specifically on exchanges which made statements regarding the ponzi) seems to show that they are struggling with their own scare walls, and less dynamic forces acting on the market.
We saw the ltc price continue to dip after the initial shock, suggesting that many traders cut their losses, but how many?
Screen Shot 2015-07-14 at 1.23.48 AMWe expect there to be some pretty massive overhead pressure on ltc for the time being, but don’t discount the possibility of a move up as btc continues to gain traction. Our suggestion to new traders is to play the ltc/btc pair, unleveraged for the time being, in order to take advantage of price movement in the market place. For more experienced traders, play the markets as you normally would, but be cautions of the potential forces you may be dealing with. Although we all love making money off of that guy who buys our asks on the ponzi spike, the overall health of the crypto community is more important than making a few dollars. Every trader that is turned off to the space after being absolutely obliterated, is one less player in our daily game of stealing each others money. While we don’t suspect that the pump team planned on this collapsing as hard as it did, we wonder exactly who else knew what was going on? These questions should be answered in the coming days, as more information comes in regarding the “Mouse Group” and how OKC is going to end up settling with their customers. So far, as is clear on Reddit, everyone is getting shafted.
submitted by shitco_in to BitcoinMarkets [link] [comments]

So last week we launched our new seed site....

Last week we launched our website
We sell the finest medical marijuana seeds for bitcoin, litecoin and dogecoin. We have a few hundred strains to choose from so far and many more being listed daily.
What makes us different to other crypto sites is we only work with crypto. We have been mining months and accumulating various cryptos so we decided to see how it was possible to live entirely using cryptos.
So we have bought our hosting, SSL certificates, our advertising all using cryptos. When it comes to paying our distributor we managed to convince them to accept BTC (helped that one of their staff was already into it) so we pay in BTC. Other than that all our crypto is kept as is, be it DOGE, LTC, BTC, VTC, PENG, FTC, NMC (looking at my wallet backup folder to see if there's more), and spent within the crypto community.
Whether you are believers in medical marijuana or not hopefully you like our little experiment.
Also sorry for the late introduction we are having a nightmare getting prices to display in DOGE on our site, so I had hoped to wait until that was finalised to say hey.
Right now we have 20% off as a launch sale using the code 420%
Follow us on twitter @CannaBitSeeds to stay up to date!
Anyway, TO THE MOON!
submitted by cannabitseeds to dogecoin [link] [comments]

New news suggests BTC-e may have lost the 66k bitcoins. People who lost fiat may get more than 100% back and crypto lossers may pay extra.

The new update by BTC-e shows that losses in crypto and fiat will be socialized.
An excerpt 2.4.3. If you have a balance in BTE, then you will be credited with 45% in coins (the sum will be divided into 7 different coins equally BTC, LTC, NMC, NVC, PPC, ETH, DSH) and write off the amount of 45% in BTE. 2.4.4. Upon all recalculations, all users will have the opportunity to withdraw 55% of their funds from the system.
So fiat that was taken that BTC-e no longer has access to will be repaid out of the pocket of crypto holders even though there is a chance that fiat will be reclaimed.
The only reason for this arrangement I can think of is also why afaik Coinbase never claimed the 66k BTC transfer was their own and since BTC-e is doing socialized losses it logically follows that BTC-e lost a lot of crypto. Since they are presumably giving back a significant amount of fiat but likely lost a very large part, if not nearly all their fiat, people who lost fiat may get back their full sum in the future from an FBI claims process as well as receiving it from BTC-e.
Whether or not you had crypto, a reading of their posts saying you will receive in equal parts 7 different types of crypto (BTC, LTC, NMC, NVC, PPC, ETH, DSH). It seems BTC-e will have to do a lot of trading to balance this out. The BTC-e users will be paying for this trading as well and to what end except to obfuscate? I do not want PPC, DSH NVC. Even bitfinex when they socialized losses did not give users back all sorts of crypto. What is the purpose of giving back 7 different cryptos? Did something happen to the database? Below are some well thought out possibilities.
In all likelihood BTC-e either lost a lot of crypto, or a good part of their database, or both. Even if they did not lose the 66k BTC, the measures and nature of this dispersal are either disingenuous or inefficient and whether or not intentional, they are unfair. People who only lost fiat may end up double dipping and BTC-e should be aware of this but I am guessing this is the easiest way to obfuscate the severity of the problems.
I know someone who had around $500,000 in fiat in btc-e. He may end up getting that whole value in BTE tokens and then again from the FBI because he is happy to provide KYC to the FBI given the opportunity. It will be the crypto users who will pay him half his second share and the potential investors the other half. The FBI has put up a claims process for seized funds in similar situations. It is certainly possible they will do so again.
Why would BTC-e not simply put up their site and provide BTE tokens to account for the funds that were lost as they were lost? Certainly giving tokens for seized fiat is unfair because that fiat may end up being claimed. Although even that is not ideal. If 1 unit of a crypto was lost, the debt should be one unit of a crypto and repayment should only be sought after it is clear whether or not the FBI will have a claims process.
Like Bitfinex, if crypto rises and BTC-e keeps hold of some of users crypto, they will be able to pay users back and profit. Like Bitfinex this a type of theft akin to the following example. Imagine if a casino is out of money but they allow a player to place a large bet. They know that if the player wins they will be unable to pay, but if the player losses they will make a profit and the player will not feel cheated. Bitfinex was able to reap the rewards of gambling with users crypto post-hack in the same way as if you had borrowed money from a friend that you only planned to pay back if you won a sports bet. Since your friend would have held on to crypto had you not taken it from him, you gain on his missed profits. When you win your sports bet, even though your friend sees no losses, he has taken on a risk shouldn't have. If I take out a credit card in your name and put charges on it, it doesn't matter if I intend to repay, it is still wrong.
If the socialized losses and the crypto distribution are the way they are to hide the fact that 66k btc was stolen then this should be reported. It is very possible that a rogue FBI agent for the 3rd time has stolen bitcoins that he legitimately accessed during an FBI investigation. If this is the case BTC-e should come out and say this. I think the previous two FBI agents are in prison for having stolen BTC during the course of an investigation.
submitted by btcecryptolosses to Bitcoin [link] [comments]

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Crypto Trading NMC - REP

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